Police today claimed to have busted a hawala racket by arresting a man and seizing Rs 50.5 lakh from his possession here.
"Based on a tip-off, we rounded up Nimosh Kumar Talrecha (32) and recovered Rs 50.5 lakh from him, which was to be delivered to people by the hawala channel," Juni Indore police station's inspector Pawan Singhal said.
"After Talrecha, we came to know that he is a member of a hawala racket, which was being run by a history-sheeter called Jitendra Lalwani," the police inspector said.
A manhunt has been launched to arrest Lalwani and further investigations are on, he said.
